09 Aug 2017 11:43

Joined:	11/02/2009
Level:	Gold
Points:	8311

Points:	2

Saudi oil crisis handling by other option ?

Saudi oil crisis handling by other options like attracting travel, make lot of visiting places , Entertainment from music dance etc . Do you think that will be enough to attract visitors and is it good option.

Will you go to visit those places.

#605403

09 Aug 2017 12:19

Joined:	02/06/2009
Level:	Diamond
Points:	14718

Points:	5

Low oil prices and war in yemen created a problem in the budget of Saudi. Government has stopped abruptly some construction of project resulting in unemployment to many people working there. Government workers benefits were reduced and there was a reduction in take home pay. Also government has stopped subsidies on fuel, water and electricity causing difficulties to common man. In addition to all these new fees and fines were come into force. Mohammad's economic reform plan implementation is going on. Government is taking quick actions but people and businessmen are suffering. The people and businessmen cannot continue further if the situation prevails like this. Added all to this the population is getting doubled.
All the oil producing countries are trying to have a meeting in the near future regarding the fuel price. If they unite and increase the prices their economy will be back on rails. Otherwise Government has to think of other ways to normalise the economic situation. Probably tourism development is one which will give some foreign exchange to the country and improve the economy. Another way is to attract foreigners to invest their money in their country by promising better returns. One more way is to explore the possibility of putting up more industries in the country by offering a good infrastructure. However the government will act and take a way to improve the conditions there.

drrao
always confident

#605406

09 Aug 2017 13:38

Joined:	11/02/2009
Level:	Gold
Points:	8311

Points:	1

You define well Mr. N.V. so I given you best answer. I think oil price will down day by day due to solar system and other option so they have to think on other option too.

Santosh Kumar Singh
(Sr. Microsoft Dynamics Axapta Technical,Mumbai)

#605487

10 Aug 2017 04:30

Joined:	12/10/2009
Level:	Platinum
Points:	182427

Points:	4

The oil producing countries must know the fact that future is not going to be fully dependent on oil and many countries are exploring other ways to do away with oil. For example electric and solar energy are largely tapped to run cars and buses. Baffled over this development the oil producing countries have the compulsion to lower the price and keep their regular customer countries to its fold. Otherwise the so called oil rich nations would become pauper and there wont be any takers of oil in future. So better they pull up the socks and sort out the oil crisis and arrive at the genuine pricing system acceptable to the world.

K Mohan
'Idhuvum Kadandhu Pogum "
Even this challenging situation would ease

Saudi oil crisis handling by other option ?

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